Construction Begins on $400M Texas Heritage Marketplace in Katy

The long-anticipated Texas Heritage Marketplace, a 165-acre mixed-use development, has officially broken ground in Katy, according to an announcement from developer NewQuest Properties. The project, set to transform the southeast corner of Texas Heritage Parkway and I-10, will introduce a diverse mix of retail, dining, medical office space, self-storage, and residential units.

With a $400 million investment, this development is expected to bring over one million square feet of commercial and residential space, with Target as the anchor tenant, according to a Jan. 27 news release.

A Vision for Growth in Katy

The project aims to cater to Katy’s rapidly expanding population, providing new shopping, dining, and housing options in one of the region’s most sought-after locations. The development is expected to create hundreds of jobs and provide a major economic boost to the area.

"After all these years of work, we couldn't be happier to kick off Texas Heritage Marketplace with a great anchor like Target," said Austin Alvis, president and chief development officer for NewQuest Properties, in the release. "We are presently working with a variety of leading retailers and restaurateurs to procure the best possible mix for the project. We look forward to announcing additional anchors and tenants soon."

What to Expect at Texas Heritage Marketplace

The development will include a wide range of amenities and commercial spaces, designed to serve both residents and visitors. According to the release, the project will feature:

• 750,000 square feet of retail and restaurant space, bringing a mix of national brands and local businesses
• 300,000 square feet of medical office space and self-storage, catering to the area's healthcare and storage needs
• 550 apartments across two multifamily communities, providing new residential options in a prime location
• A walkable green space, designed around a heritage oak tree that was relocated to preserve the area's natural landscape

The development is expected to enhance the lifestyle and convenience of Katy residents, offering a modern, pedestrian-friendly environment with easy access to major roadways.

Project Delays and a Fresh Start

The Texas Heritage Marketplace project was originally scheduled to begin construction in 2020, coinciding with the completion of Texas Heritage Parkway, a 6.4-mile corridor linking I-10 and FM 1093. However, delays pushed back the groundbreaking, and the parkway officially opened in August 2021, as previously reported by Community Impact.

Now, with construction officially underway, the development is poised to move forward and reshape the commercial landscape of Katy.

The Road Ahead: What’s Next for the Project?

While NewQuest has not provided an exact timeline for completion, further announcements regarding additional tenants, leasing opportunities, and construction milestones are expected in the coming months.

Once completed, Texas Heritage Marketplace will stand as a premier destination for shopping, dining, and living in Katy, helping to meet the demand of a growing community while attracting businesses and visitors to the area.